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Feb 5, 2013
02/13
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to put off the table the debt ceiling because they don't want to accuse of causing a debt default. they postpone it. they're going to continue the current levels so they're not going to be accused of shutting down the government. >> by the way, is that going to go on for three months or actually put it off for a year or two? >> they're going to do it every three months and every three months postpone it so that you know, the democrats on a short leash. i don't think they're going to try to default and nobody wants that. but they think that the democrats had all the leverage in fiscal cliff because of taxes. i think this time around it's the spending cuts automatic and they want to play hardball and there will be a game of chicken. we'll see which side blinks. >> what's your sense on employment? what's your projection in terms of where we are on the unemployment picture 12 months out? >> i think there will be a slow reduction of the employment rate because we're going to create something between 150,000 and 200,000 jobs essentially per month. >> that's going to be consistent? >> ups
to put off the table the debt ceiling because they don't want to accuse of causing a debt default. they postpone it. they're going to continue the current levels so they're not going to be accused of shutting down the government. >> by the way, is that going to go on for three months or actually put it off for a year or two? >> they're going to do it every three months and every three months postpone it so that you know, the democrats on a short leash. i don't think they're going to...
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Feb 6, 2013
02/13
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if we bump into the national debt ceiling and by the way the good news is the republicans are talking more and more like this is not going to happen. but if we do, we have to go to a balance budget in a minute. can't borrow anymore. we've got a deficit that's, let's just call it morning friends a trillion. the c.b.o. estimate was a little bit below finally. but around the neighborhood of a trillion. that's 12 times 85. on top of that, you will... you have the danger of kicking off a worldwide financial panic as people start worrying about, well, is the united states going to default on its debt? if it comes down to paying social security payments or the interest on the debt, are we so sure that america will cut the social security payments and pay the interest on the debt? and a whole bunch of questions like that that we don't want anybody thinking about. we always want people thinking america is going to pay its obligations all of them. all of them. >> charlie: and america is. and we always have. i believe we will. but that's why i'm so worried about even if it's a small probability
if we bump into the national debt ceiling and by the way the good news is the republicans are talking more and more like this is not going to happen. but if we do, we have to go to a balance budget in a minute. can't borrow anymore. we've got a deficit that's, let's just call it morning friends a trillion. the c.b.o. estimate was a little bit below finally. but around the neighborhood of a trillion. that's 12 times 85. on top of that, you will... you have the danger of kicking off a worldwide...
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Feb 5, 2013
02/13
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republicans acted in that direction by putting off the debt ceiling a couple of months until may as hampton mentioned a minute ago. the president is going to propose the same thing on the budget sequester but not, according to a white house official, laying out his own plan. he's going to call on congress to do that and expected response from republicans, tyler, is, hey, mr. president, where are your cuts, we want to see them. >> john harwood, thank you very much. once again you will see the president's address live right here on "power lunch" in just a few moments. before that occurs, we have a triple digit advance. the market added to advances a few moments ago when we got budget figures. the dow up 109 points. the nasdaq up 34 and the s&p 500 is up 14 points. more on the trading action right here from bob pisani. he joins me on the floor of the nyse. it's almost like yesterday didn't happen. >> the important thing is, i know it doesn't seem terribly exciting but we are 14,000, we're a couple of points from a historic high from the dow jones industrial. we've been up a couple points throu
republicans acted in that direction by putting off the debt ceiling a couple of months until may as hampton mentioned a minute ago. the president is going to propose the same thing on the budget sequester but not, according to a white house official, laying out his own plan. he's going to call on congress to do that and expected response from republicans, tyler, is, hey, mr. president, where are your cuts, we want to see them. >> john harwood, thank you very much. once again you will see...
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Feb 12, 2013
02/13
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they caved on the debt ceiling issue. >> you're right. he definitely thinks he has their number and he will act like it. i do think there is a notion that i think you know every winning party, every second-term president i think, every victorious party in general overplays its hands, right? george bush did when he was reelected. republicans did when they seized control in 2010 of the house. i think, democrats know this feeling well. they always overplay their hand. they always read too much in an election. as i try to remind people. the president won an election, one of the consequences of which was raising taxes on the well to do. i think that is a fair consequence of an election he won and campaigned on that. he didn't win on the notion that he shouldn't address the ills of spending and debt that piled up to the degree they have. so a pox on both parties if they fail at this moment to seize this. but my worry about this otherwise very good news on the budget numbers is we're going to use it as an excuse not to address budget issues beca
they caved on the debt ceiling issue. >> you're right. he definitely thinks he has their number and he will act like it. i do think there is a notion that i think you know every winning party, every second-term president i think, every victorious party in general overplays its hands, right? george bush did when he was reelected. republicans did when they seized control in 2010 of the house. i think, democrats know this feeling well. they always overplay their hand. they always read too...
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Feb 5, 2013
02/13
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ceiling debate of 2011. republicans say it is now time for the president to do something. >> this week, i'm pleased to join my leadership in putting forward the require a plan act that will say to the president two specific things. put a budget in place that balances with a continue-year period of time, but if you don't, tell us when it does. tell us when your plan balances. families and businesses across the great nation must work on a balanced budget. they can't borrow and spend as far as the eye can see. this president, it's time for him to step up, put forward a balanced budget or tell us when his budget will balance. >> for more on what we expect to hear from the president, we want to bring in my colleague and friend, john king in washington. john we know the president will try to kick the can forward here, talk about the need for revenue, as well as spending cuts but not deep cuts that everybody's concerned. what do we expect? >> a familiar haunt for both of us, the white house briefing room. using the
ceiling debate of 2011. republicans say it is now time for the president to do something. >> this week, i'm pleased to join my leadership in putting forward the require a plan act that will say to the president two specific things. put a budget in place that balances with a continue-year period of time, but if you don't, tell us when it does. tell us when your plan balances. families and businesses across the great nation must work on a balanced budget. they can't borrow and spend as far...
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Feb 11, 2013
02/13
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' fangs with respect to the debt ceiling. that's probably the big risk that the market was worried about. >> you made recent changes to your 2013 allocation strategy. some of them are interesting. high volatility u.s. large caps and micro cap stocks. it would seem you're increasing the beta place. when you say u.s. large cap volatile stocks, what do you mean by that? >> well, we believe that there's an evolution in the asset classes that investors are going to be tapping into in the next decade. you know, if you look back over the last 20 years, people spent a lot of time arguing, what was the value stock, what was a growth stock. and a lot of times it was in the eye of the beholder. volatility is a much more objective mesh yasure of what a stock is. you can do very good long term, 80 and 90-year analysis of what this asset class means. and right now, we show high volatility stocks have been beaten down very, very much in the rally, relative to low volatility, sort of bond proxy stocks. that suggests to us that they're one of
' fangs with respect to the debt ceiling. that's probably the big risk that the market was worried about. >> you made recent changes to your 2013 allocation strategy. some of them are interesting. high volatility u.s. large caps and micro cap stocks. it would seem you're increasing the beta place. when you say u.s. large cap volatile stocks, what do you mean by that? >> well, we believe that there's an evolution in the asset classes that investors are going to be tapping into in the...
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Feb 13, 2013
02/13
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republican line. carm karl one question i got -- caller:, one question i got he talks about rebuilding infrastructure and at the end of this month, we are going to face the debt ceiling once again, why is it we send $700 million to cairo to rebuild their sewer systems? host: what do you think about foreign policy? what's your opinion about other international news snr caller: i'm more caring about the infrastructure of this country and how our jobs are being shipped overseas. i want to know what he is going to do to bring the jobs back. host: do you think we'll hear concrete ideas in terms of jobs. economy on one hand and jobs in the other and our caller wants to hear about infrastructure. guest: the white house said there are four areas of interest and manufacturing is one but infrastructure is another. there are jobs and how to grow the economy are supposed to be there, so we'll see. they said it's a combination of old proposals he has tried to get passed in the last four years and also new proposal
republican line. carm karl one question i got -- caller:, one question i got he talks about rebuilding infrastructure and at the end of this month, we are going to face the debt ceiling once again, why is it we send $700 million to cairo to rebuild their sewer systems? host: what do you think about foreign policy? what's your opinion about other international news snr caller: i'm more caring about the infrastructure of this country and how our jobs are being shipped overseas. i want to know...
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Feb 5, 2013
02/13
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now on the horizon there are lots of house republicans, particularly younger ones, who say let's cut the defense budget, let those automatic spending cuts take place, and there are lots of senior republicans who say, not so fast. so that's going to be a problem within the republican party as we look ahead. >> where does karl rove and his new super pac fit into that? >> did you ever think republicans would call him a rhino, republican in name only. here you go. i've always thought of karl rove as a conservative. what's going on is his pac has said, you know what, we are tired of someone associated with his pac said to me, quote, the novelty of losing elections has worn off, and what they've decided to do is to start putting their money in primaries. they want to vet republican primary candidates so that by the time they get to the general election they believe they have qualified vetted candidates who can actually win. conservatives are saying, this is not what you should do. you need to let the process work itself out and american crossroads is saying, don't sacrifice ideological pur
now on the horizon there are lots of house republicans, particularly younger ones, who say let's cut the defense budget, let those automatic spending cuts take place, and there are lots of senior republicans who say, not so fast. so that's going to be a problem within the republican party as we look ahead. >> where does karl rove and his new super pac fit into that? >> did you ever think republicans would call him a rhino, republican in name only. here you go. i've always thought of...
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Feb 7, 2013
02/13
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because they're still bringing the same optical, whether we talk about sequestration or the debt ceiling. they are still doing that. the president was successful when he went to the american people, not just rallying democrats, but rallying the people who say let's get on with it, let's try to balance the budget, and the difficulty we have here now is the republicans are just talking about cutting programs, and they have targeted social security, medicaid, and medicare, and the president is saying we have to reform these systems, but we still need more revenue, and this is a worry that they just refuse to discuss. i don't see how you can ignore revenues if you talk about a budget. >> sir, if you will, we look at the time clock ahead of us, we have the state of the union coming up next week, but it's the sequester at the end of the month, the beginning of march, that everybody is worried about and what those cuts will mean in terms of defense spending and what it will mean to low-income families in this country. just a short time ago leon panetta was asked directly about the sequester in
because they're still bringing the same optical, whether we talk about sequestration or the debt ceiling. they are still doing that. the president was successful when he went to the american people, not just rallying democrats, but rallying the people who say let's get on with it, let's try to balance the budget, and the difficulty we have here now is the republicans are just talking about cutting programs, and they have targeted social security, medicaid, and medicare, and the president is...
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Feb 4, 2013
02/13
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on the debt ceiling. that's good news for markets because it shows politicians are not going to play chicken with the one thing that could really make a difference to the u.s. economy. it does suggest, though, that both the sequester and the continuing resolution might be places where opposition republicans take the opportunity to try to extract some containment trt white house. >> and what's your -- as you've priced that in, what do you expect, actually, the to be the outcome as we head into march towards the end of the month? is there more fiscal drag related tr these talks? >> we still see economic up sides for the u.s. citi economists have improved their growth forecast overall, but this isn't helping and it's not necessarily helping business confidence. what we think markets may not be prepared for is the fact that ee quest ragz is now likely to kick in. these are comments from both parties suggested that they be willing to allow this to happen. it may be the lesser of the evils. >> what are we talki
on the debt ceiling. that's good news for markets because it shows politicians are not going to play chicken with the one thing that could really make a difference to the u.s. economy. it does suggest, though, that both the sequester and the continuing resolution might be places where opposition republicans take the opportunity to try to extract some containment trt white house. >> and what's your -- as you've priced that in, what do you expect, actually, the to be the outcome as we head...